Binance has taken a new step to increase interest in meme coin projects that are rapidly becoming popular in the crypto world. The exchange has launched a futures contract for an asset called Ponke (PONKE) that offers a maximum leverage of 75x on November 4, 2024. This new contract allows investors to access short-term earning opportunities and also draws attention with its high leverage ratio.
Binance has made an important announcement for the meme coin PONKE. The world’s largest cryptocurrency exchange announced that it will launch futures contracts for a new asset called Ponke (PONKE) on November 4, 2024 at 15:30 Turkish time. This contract will offer investors the opportunity to trade with a maximum leverage of 75 times, while Tether (USDT) will be used as the trading pair. Binance’s listing of PONKEUSDT futures creates an attractive opportunity, especially for investors looking for short-term gains.
The PONKEUSDT contract is among Binance’s USDⓈ-M Perpetual Contract options and offers investors high profit potential in assets that are sensitive to market fluctuations. However, high leverage rates increase investors’ profit margins, but they also carry significant risks. Sudden price drops, especially in transactions made using 75x leverage, can lead to major losses. For this reason, Binance recommends investors to take risk management into account and perform leveraged transactions carefully.
Regarding contract-specific funding rates, Binance stated that users who will trade with the PONKEUSDT contract will encounter funding rates updated every four hours. These rates, which are initially expected to vary between a maximum of 2.00% and -2.00%, may be updated by the exchange depending on market conditions. Since this situation may change depending on market volatility, it is important for investors to follow the trading hours carefully. In addition, factors such as minimum margin level, maximum leverage and trading limits are among the factors that Binance can adjust according to market conditions.
Following Binance’s listing announcement, a rapid increase in the price of Ponke (PONKE) was observed. According to market data, the value of PONKE increased by 40% from $0.458 to $0.625. However, after this increase, the price dropped rapidly as investors took profits and started trading at $0.52 at the time of writing. According to the data, it has increased by 12% in the last 24 hours.
